Coronavirus: the André shoe brand, on the verge of bankruptcy?

As the health crisis continues in France, will the André shoe company go bankrupt? The question arises, when nearly 4 million euros have been lost by the brand over the past two weeks, following store closings. The sign has been placed in receivership, and the 600 employees of the 150 signs are threatened. “We are very afraid, afraid of the future“worries Yohan Samin, store assistant.

The brand had been bought a year and a half ago by the company Spartoo. Since then, the store has chained problems, according to management. Boris Saragaglia, CEO of the group, said: “We suffered the 'yellow vests' then, in the middle of the January sales, strikes linked to the pension reform, and now the Covid-19 pandemic.“To maintain his activity, André asked for a loan of 12 million euros, refused by the financial authority.

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